Facebook offers cash for developers

Facebook has announced a new program called FBFund to provide grants to developers who are interested in creating applications for the site.

FBFund, with cash infused by Facebook investors Accel Partners and the Founders Fund, will start with $10 million and will provide $25,000-$250,000 grants.

In a press release the company said that by decreasing the barrier to start a company, we hope to entice an even larger group of people to become entrepreneurs and build a compelling business on Facebook Platform.